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Industrial production loses momentum towards end of 2004

The volume of industrial production rose 8.3% yr/yr in 2004, according to the preliminary figures of the Central Statistics Office (KSH). Although December saw a 3.5% increase yr/yr in terms of industrial output, working day adjustment turned this into a 1.4% decline, and with seasonal adjustment also taken into account the industrial production index was down 3.9% from December 2003.